Almunia Sees November Action After ‘Rigorous’ Spain Bank Review
European Union Competition Commissioner Joaquin Almunia said recapitalization of Spanish banks may be able to move forward in November now that an independent review has established a 59 billion-euro ($76 billion) capital shortfall.
“I think this has been a very detailed exercise, a rigorous one with a huge amount of work being done,” Almunia told reporters today in Nicosia, Cyprus. “I think it is really transparent and trustful.”
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